Ethereum to $5k?

Ethereum is predicted to reach new all-time highs above $5,000, with a minimum target of $5,300, despite recent market drops.

• Ethereum is predicted to rally above $5,000, targeting $5,300.

• Recent 30% price drop was a key part of the predicted cycle before new highs.

• The market cycle is expected to conclude soon, with Ethereum reaching $5,000 as a final piece.

Ethereum is forecasted to rally to new all-time highs, specifically targeting above $5,000, after a recent 30% drop which was seen as a necessary market correction. This prediction is based on historical market cycles and the belief that current narratives around price drops are often forgotten once prices recover. The speaker maintains confidence in this outlook, acknowledging the potential for the market to humble predictions but emphasizing the current trajectory towards new highs.

Market Narratives & Cycles

• 00:00:22 Market movements are often influenced by narratives that justify price drops, but these narratives are typically forgotten once prices recover, as seen in 2017 and 2021. The current drop, though recent in memory, is likely to be viewed as an inconsequential event if Ethereum reaches new all-time highs in the near future, aligning with predictable market cycles.

Ethereum's Price Prediction

• 00:01:31 Ethereum is expected to rally past its regression band to new all-time highs, followed by a predicted 30% drop, and then a subsequent rally above $5,000. This specific sequence of events, including the 30% drop, has reportedly played out as expected, leading to a strong belief that a new all-time high is imminent.

Self-Correction and Confidence

• 00:02:00 The speaker acknowledges the market's ability to humble predictions and the human tendency for ego inflation after successful calls, but maintains confidence in the Ethereum price forecast. A potential signal for being wrong would be Bitcoin closing weekly below its 50-week moving average or 100k, but such a scenario is not currently anticipated.

Path to $5300 & Cycle End

• 00:04:33 The minimum target for Ethereum is $5,300, which, if achieved, would mark a significant milestone before reassessment. The recent 'capitulation' or 'wick down' on Friday is viewed as a beneficial event, potentially clearing the path for a rapid ascent to $5,000. This move is expected to occur relatively soon, as the current four-year market cycle is believed to be nearing its end before the year concludes, with Ethereum breaking $5,000 being a key remaining puzzle piece.